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fixed asset

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fixed asset turnover ratio

Overview page. Subjects: Accounting.

A ratio that measures an organization’s activity over a period by calculating the number of times the sales are a multiple of the balance-sheet value of the fixed assets. The fixed-asset...

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fixed capital

Overview page. Subjects: Financial Institutions and Services.

The amount of an organization's capital that is tied up in its fixed assets.

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fixed-assets register

Overview page. Subjects: Accounting.

A listing of the fixed assets of a company. It records a description of the asset, its location, cost, revaluation, estimated net value, estimated useful economic life, depreciation method,...

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free depreciation

Overview page. Subjects: Financial Institutions and Services — Accounting.

Method of cost recovery or depreciation for tax purposes which allows the company to offset the depreciation expense against profits in any manner advantageous to the business.

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headline earnings per share

Overview page. Subjects: Accounting.

A form of earnings per share information provided by the Chartered Financial Analyst Society (formerly the Institute of Investment Management and Research). The figure includes all the...

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historical cost accounting

Overview page. Subjects: Financial Institutions and Services — Accounting.

The convention of reporting items in a balance sheet at their purchase price or cost, less any depreciation, without regard to their replacement value. Other methods of reporting would use...

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horizontal form

Overview page. Subjects: Accounting.

The presentation of a financial statement in which the debits are given on one side of the statement and the credits on the other. In the case of a balance sheet, the fixed assets and...

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impairment review

Overview page. Subjects: Accounting.

A review, which under Financial Reporting Standard 11, should be conducted by entities if events or changes in circumstances indicate that the carrying amount of a fixed asset or goodwill...

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investing activities

Overview page. Subjects: Accounting.

A heading required in the cash-flow statement of an organization by Financial Reporting Standard 1, Cash Flow Statements, which shows the cash flows related to the acquisition or disposal...

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liability

Overview page. Subjects: Economics.

N.

1 An amount owed.

2 A legal duty or obligation. See business liability; occupier's liability; parents' liability; products liability; strict...

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life-cycle costing

Overview page. Subjects: Financial Institutions and Services — Accounting.

The approach to determining the total costs of a fixed asset that takes into account all the costs likely to be incurred both in acquiring it and in operating it over its effective life....

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long-term debtors

Overview page. Subjects: Accounting.

*Debtors who are not expected to pay what they owe in the near future. The debtors of an organization shown on the face of a balance sheet under current assets may be assumed by some...

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net current assets

Overview page. Subjects: Business and Management.

*Current assets less current liabilities. The resultant figure is also known as working capital, as it represents the amount of the organization's capital that is constantly being turned...

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net tangible assets

Overview page. Subjects: Financial Institutions and Services.

The tangible assets of an organization less its current liabilities. In analysing the affairs of an organization the net tangible assets indicate its financial strength in terms of being...

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notes to the accounts

Overview page. Subjects: Financial Institutions and Services — Accounting.

Information supporting that given on the face of a company’s financial statements. Many notes are required to be given by law, including those detailing fixed assets, investments, share...

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obsolescence

Overview page. Subjects: Business and Management.

The point in the decline of a product in its marketplace, where the product becomes outmoded because newer, more technologically advanced, or more competitively priced products become...

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offset account

Overview page. Subjects: Accounting.

An account that reduces the gross amount of another account to derive a net balance. An example is a fixed asset that remains in the books of account at cost as a debit balance and is...

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original cost

Overview page. Subjects: Accounting.

The cost of an item at the time of purchase or creation. This applies particularly to fixed assets in which depreciation by the straight-line method uses the original cost as a basis for...

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permanent diminution in value

Overview page. Subjects: Accounting.

A fall in the value of an asset that is unlikely to be reversed. The fixed asset must be shown in the balance sheet at the reduced amount, which will be the estimated recoverable amount. A...

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plant and machinery

Overview page. Subjects: Accounting.

The equipment required to operate a business. Capital allowances are available for plant and machinery although neither is defined in the tax legislation. The working definition often used...

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